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Update on Arman

For young biologist Arman this is the third loan from Kiva. First, he sends his kind greetings to all of his Kiva lenders and says a big thank you for their support.

Arman is still engaged in the clothes-trading business in his rented stall in the clothes market of Vanadzor city. He is the only breadwinner in his small family. His wife is in charge of the upbringing of their son. As Arman confessed, after two loans from Nor Horizon and Kiva, his business is going well and he enlarged the assortment of his clothes. He buys men’s clothes from Yerevan wholesale markets and resells them in his stall in Vanadzor.

This time, Arman decided to buy a new summer clothes assortment from Georgia and transport them for reselling in to Vanadzor city. For this he asks a loan from Kiva and hopes for his Kiva lenders' big support.

Previous Loan Details

Arman is still running his clothes trading business and thus keeps his family. His first Kiva loan was spent to buy a clothes assortment to resell. Now he needs a 700,000 AMD loan to buy spring sweaters and trousers for his business. More from Arman's previous loan »

Additional Information

About “Nor Horizon”

“Nor Horizon” UCO LLC is committed to promoting poverty alleviation in Armenia by providing high-quality financial and other business development services to enterprising individuals in under-served rural and urban markets who have a strong will to establish and develop their own small-scale businesses. Originally created as the Armenian micro credit program of Oxfam (Great Britain) in late 1995, “Nor Horizon” LLC has been licensed under supervision of the Central Bank of Armenia since early 2006.

For more information about “Nor Horizon,” please visit the partner page or website.

To stay updated on loans from Armenia, please join the Armenia lending team at

Concurrent and Successive Loans

Our Field Partners often work with borrowers over a series of loans as the borrowers build credit, take out bigger loans, and expand their businesses. In order to make it easier for our Field Partners to post loans for borrowers who have been listed on Kiva before, we allow them to post successive and concurrent loans for their Kiva borrowers. This means that our Field Partners are able to post a borrower's second, third, etc., loan on Kiva without having to re-enter all of the borrower's information.

This borrower has been listed on Kiva before, so you'll see an updated loan description, as well as excerpts of the original descriptions from earlier loans. Most borrowers take out loans consecutively, meaning that they receive a second loan after having repaid the first. However, sometimes our Field Partners give out concurrent loans, allowing borrowers to take out one primary loan and a secondary "add-on" loan along with it. These "add-on" loans are typically smaller than the borrower's primary loan and serve a different purpose. Because Field Partners can now post loans as successive and concurrent loans, you will be able to track borrower progress over time and see the various ways a borrower is working with our Field Partners through funds from Kiva’s lenders.


About Armenia

  • $6,300
    Average annual income
  • 125
    View loans »
    Armenia Loans Fundraising
  • $14,083,350
    Funds lent in using Kiva
  • 417.2
    Armenia Drams (AMD) = $1 USD
A loan of $1,700 helped Arman to buy a new summer clothes assortment from Georgia and transport them for reselling.
Repayment Term
26 months (Additional Information)
Repayment Schedule
May 4, 2013
Jun 4, 2013
Currency Exchange Loss:
Jul 4, 2013